The Beatles & Co. is formed

9.00am, Wednesday 19 April 1967 (47 years ago)

In order to control their various business interests, The Beatles’ tax advisors suggested they form an umbrella company. Formed on this day, it was named The Beatles & Co.

At the time the group had large amounts of capital, which they were in danger of losing to the Inland Revenue. To avoid this occurring they chose to invest in a business venture.

The Beatles & Co. was essentially a new version of Beatles Ltd, their original partnership. Under the new terms, each Beatle took ownership of 5% of the company, and a new corporation – which eventually became Apple Corps – would be collectively owned and would control 80% of The Beatles & Co.

Apart from songwriting royalties, which would be paid directly to the authors of the individual songs, all money earned by the group would be channeled into The Beatles & Co., which would leave them with a much lower corporate tax rate.

The legal partnership covered group, live or solo work, and was intended to bind the four controllers together for 10 years on a goodwill share issue of £1 million.

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